Bank Mandiri

PT Bank Mandiri (Persero) Tbk provides various banking products and services to individuals and businesses in Indonesia, Singapore, Hong Kong, Timor Leste, Shanghai, Malaysia, the United Kingdom, and the Cayman Islands. It offers savings and current accounts, time deposits, demand deposits, and foreign currency savings and current accounts; motorcycle loans, mortgage loans, and housing loans, as well as loans for various purposes, such as education, home renovation, marriage, health, and other needs for individuals; and working capital loans, investment loans, people's business loans, syndicated loans, and micro business loans for businesses. 

The company also provides investment products comprising mutual funds, stocks, and bond trading; life, health, and general insurance products; credit, debit, and corporate cards; e-banking services; digital lending; cash management services; trade finance services, value chain, supply chain management, global and domestic trade, export and import, standby letter of credit, and bank guarantee, as well as spot and forex services; custodial services; treasury services, including cash transaction/liquidity, hedging, and investment products; trust services comprising trustee, paying agent, security agent, escrow agent, monitoring agent, and receiving bank services; and money transfer, remittance services, and venture capital financing. 

As of 31 December 2021, it operated 2,609 branches, including 137 branch offices, 2,465 sub-branch offices, and 7 overseas branch offices; and 13,087 ATM facilities. The company was founded in 1998 and is headquartered in Jakarta, Indonesia.

Bank Mandiri is the result of the merger made by the Indonesian government from four older government-owned banks that failed in 1998. Those four banks were Bank Bumi Daya, Bank Dagang Negara, Bank Ekspor Impor Indonesia, and Bank Pembangunan Indonesia. During the amalgamation and reorganisation, the government reduced the number of branches by 194 and the number of personnel from 26,600 to 17,620.

Bank Bumi Daya and Bank Ekspor Impor Indonesia were previously merged in 1965 by the Indonesian government under Guided Democracy into the Bank Negara Indonesia umbrella. The Indonesian government then reorganized the banks in 1968 as the New Order government took place.

Bank Bumi Daya started in 1959 when the government nationalized Nationale Handelsbank's operations in Indonesia as a part of a boycott on Dutch companies amid both nations' dispute over Western New Guinea, and from them, the government created Bank Umum Negara. In 1964, the government nationalized Chartered Bank's operations in Indonesia and merged them into Bank Umum Negara; the British overseas bank had first entered Indonesia in 1863 when it opened an agency in Batavia. In 1965 the government brought Bank Umum Negara into BNI, renaming it Bank Negara Indonesia Unit IV, but in 1968 BNI IV became an independent bank again with the name Bank Bumi Daya.

Bank Ekspor Impor Indonesia was created in 1960 as the Indonesian government nationalized the Indonesian operations of Nederlandsche Handel-Maatschappij. The bank was then merged into BNI the government in 1965 and became Bank Negara Indonesia Unit II. In 1968, the government split BNI II into two parts, with the BNI Unit II Export-Import Division becoming BankExim, which specialised in trade finance.

Bank Dagang Negara was established in 1960 from the nationalization of Escomptobank. Escomptobank NV, previously Nederlandsch Indische Escompto Maatschappij until 1949, was established in Batavia in 1857.

Bank Pembangunan Indonesia had its root in Bank Industri Negara, which was established in 1951. The bank was aimed to finance priority sectors, such as plantations, industry and mining. In 1960, the Indonesian government established Bapindo and merged BIN into it. Bapindo specialised in medium and long-term financing of manufacturing, tourism and transportation. In 1986, Bapindo expanded into general commercial banking.

In 1998, the government merged BBD, BDN, BankExim and Bapindo to create Bank Mandiri to restructure some state-owned banks to manage the impacts of the financial crisis at the time. Bank Mandiri was established on 2 October 1998, and the merged banks operated effectively as a single bank starting on 31 July 1999. 

The name Mandiri was coined by President B. J. Habibie during his presidency, with the hope that the bank could become a self-reliant bank and encourage the people, especially those who need microfinancing, to also become self-reliant. In 2004, the bank opened a branch in Dili, East Timor and a representative office in Shanghai, China.

“To be market orientedTo enhance professionalismTo maximize return to stakeholdersTo have an open management approachTo demonstrate concern for the community and the environment”

"Commitment to building long-term relationships based on trust with both business and individual customers"."